Automotive Radar Applications Sector to Post 17% CAGR by Volume to 2021, States Market Research Future in Its Report Published at MarketPublishers.com

20 Feb 2017 • by Natalie Aster

LONDON – The value of the global market for automotive radars stood at more than USD 1.221 billion as of 2015, and is projected to amount to around USD 1.441 billion by end-2022. The automotive radar sector, in volume terms, reached 42.8 million units in 2015, and is anticipated to grow at close to 17% CAGR in the offing.

Growing awareness about the driving safety amid the end-users to minimise road traffic accidents alongside supplementing government incentives to enhance road safety, make up the key factors giving a boost to the automotive radar marketplace.

Europe dominated the market, valued at USD 440.8 million as of 2015, and is poised to increase in the years to come. North America came the second and stood at USD 328.5 million as of 2015.

The study takes a detailed look at the factors impacting and affecting the sector’s growth. It provides revenue figures, historical and forecasted, with respect to the market segments and also sub-segments region-wise and across key nations. It also presents historical and forecast market values for the market segments on the basis of frequency, application area, and technology. The research publication offers granular profiles of the dominant players in the market space, canvassing their market share, key competencies, and limelighting the competitive scenario in the market. The report gives insights into the development trend of the automotive radar market, as well as offers an all-round feasibility analysis of investments in new projects.